In order to lead the market through its product and market shares, Ansoff’s Product Market Growth Matrix provides the framework for the product and market growth strategy.

With the use of this matrix a business can get a fair idea about how its growth depends upon it markets in new or existing products in both new and existing markets. Companies should always be looking to the future. The product/market growth matrix is a portfolio-planning tool for identifying company growth opportunities.

Based on this matrix, Aurobindo may segregate its different products. Here the company just enter into market and wants to grow its market. It has different options to establish in the market. It can adopt penetration, product development, market development or diversification for its different products.

Market penetration

Market penetration refers to a growth strategy where the business focuses on selling existing products into existing markets. It is achieved by making more sales to present customers without changing products in any major way.

Market development

It is a growth strategy where the business seeks to sell its existing products into new markets. This strategy focuses on identifying and developing new markets for the existing products of the company.

Product development

Product development is a growth strategy where business aims to introduce new products into existing markets. It is a strategy for company growth by offering modified or new products to current markets.

Diversification

Diversification refers to a growth strategy where a business markets new products in new markets. It is a strategy by starting up or acquiring businesses outside the company’s current products and markets.